Texas-based Lufkin Industries will build its announced production unit in Romania within the Ploiesti West Park, where it bought a 33-hectare land plot from the owners Allianso Business Park, the company has announced. Belgian Alinso is the majority shareholder and developer of Ploiesti West Park.

The group of companies which includes airline company Blue Air will open the first restaurant under

Romanian media

Idea of dropping flat tax bewilders political and business circles – in Ziarul

Investment fund Interprime Properties, which is part of the Swedish group Ikea, has bough the Timpuri Noi industrial platform in Bucharest for EUR 34.6 million. The 51,000 – sqm land plot, which has been up for sale for a couple of years, was initially on sale for EUR 100 million for the land plot, which is 60 percent covered by buildings

We are trying to help our readers discover hidden places of Romania, places where they could discover the culture and the traditions, which might soon be lost in the turmoil of the modern world. Let's help each other spend some quality time in Romania. If you've been to a certain place that you loved, or if you'd like to recommend a certain tourist sight you enjoyed, let the others know!

US automotive safety restraints producer ‘Key Safety Systems' (KSS), is planning to build a factory in the Curtici Free area in Arad county. The 12,000 – sqm facility will become KSS' third factory in Romania in 2011, when it will become operational.

Finance minister Sebastian Vladescu said Romania should tax income and pensions on a progressive scale starting 2011. Romania has been applying a 16 percent flat tax on income for the last five years. Vladescu also mentions the VAT drop

Kazakhstan’s KazMunayGas, the owner of Rompetrol group, is ready to buy back the shares the Romanian state could take over in Rompetrol Rafinare, according to the Rompetrol president Saduokhas Meraliyev. The state could do this if KazMunayGas will not pay its entire debt to the Romanian state. The state could sell the shares to third parties, but KazMunayGas has the preemption rights

Foreign direct investments to Romania totaled EUR 1.43 billion in the first five months of the year, down 31.5 percent on the same period of last year, according to data recently released by the Romanian Central Bank (BNR). There was a volume of FDI of EUR 300 million in May this year.

Black Sea Global Services (BSGS), the real estate investment fund set up by Romanian investor Dinu

Razvan Sin is the new head of the retail department with DTZ Echinox, the firm has announced. He will replace Aura Voiculescu, who has stepped down to pursue a business school abroad. Razvan Sin has joined the real estate consultancy firm in 2007.

Local IT distribution company Asesoft Distribution saw its revenues up 33 percent in the first half of this year, to USD 67.8 million, it has announced. Its target for the year is a turnover of USD 180 million. This would be an overall increase of over 30 percent in turnover compared to last year.